Top 9 Free Online Budgeting Tools Benefit Your Life

A customer uses the One Banks app on her mobile phone in Denny, Scotland on March 25, 2022. ANDY BUCHANAN/AFP via Getty Images

You don’t want to spend an arm and a leg on online budgeting tools. In my frugal opinion, that just defeats the purpose. Additionally, you don’t want to use overly complex tools that generate such meticulous reports that the thought of it gives you a panic attack.

“Budgeting has only one rule: Do not go over budget.” —Leslie Tayne

While Tayne speaks the truth, that’s easier said than done—especially when you don’t have the right tools. After all, these tools make it easier to create and stick to your budget so that you can achieve your financial goals. And, in some cases, it makes budgeting a little less overwhelming and panic-induing.

Here are the nine free online budgeting tools. What’s more, they should also be incredibly easy to use.

1. Mint

For many, the undisputed heavyweight champion of budgeting tools is Mint. Since 2006 this popular platform has assisted over 20 million users smoothly manage their finances. And, that’s because it’s packed to the brim with features.

For starters, it links all of your financial accounts, such as checking, savings, and credit cards. It then automatically analyzes your spending by month, quarter, or year. From there, Mint will provide a graphical interface to see where your money is going by category.

Armed with this knowledge, you can painlessly construct a budget. Mint will even make customized smart suggestions for you as well. Furthermore, you’ll receive payment reminders, basic investment tracking, and unlimited credit scores.

Mint is available on desktop, as well as iOS and Android.

2. Personal Capital

If you have a 401(k), IRA or other investments to track, then Personal Capital is one of online budgeting tools. The reason? It uses the same algorithms as robo-advisors. But, there’s still access to human, financial advisors when needed.

Of course, this isn’t merely an investment management service. Personal Capital also offers an accurate picture of your net worth and cash flow. It can also be used for long-term financial planning. And, it does allow you to organize your spending and savings to generate and track your personalized budget.

Personal Capital can be accessed on your web browser. But, it can be downloaded for free on the App Store or Google Play.

3. Unsplurge

Why are we so terrible at sticking to a budget? The word itself conjures a sense of dread. “I think the entire concept of budgeting is flawed,” says Brad Klontz, a psychologist and certified financial planner. “Your emotional brain responds to the word budget the same way it responds to the word diet. The connotation is deprivation, suffering, agony, depression.”

To combat this, work with your psychology by creating a spending plan. Preferably, it’s aligned with the specific goals that enjoy and value. “You get really excited about things you want to spend money on. And then you want to cut back on the things that don’t matter,” Klontz said.

Unsplurge is an iOS app that taps into this. As opposed to being a complete budget management tool, the app was designed to help you save up for a specific item, like a new car of your dream vacation.

Simply establish a saving goal, and Unsplurge will monitor your daily savings, including micro-savings on everyday purchases like groceries. In addition to tracking your spending, the app will also make recommendations on how you can improve your savings.

4. Trim

Trim isn’t your run-of-the-mill budgeting tool. There isn’t even a mobile app option. Instead, it’s an AI-assistant designed to help you save money. How? By negotiating your monthly bills.

You might be concerned that a robot has completely taken over your accounts. That’s not exactly true. Trim works with companies like Comcast, Time Warner, and Verizon to make sure that you’re getting the best possible rates. It can also identify and eliminate those mysterious charges that you’ve been paying each month without question.

Trim also analyzes all of your translations and will cancel any unwanted subscriptions. It also offers a debt payoff plan. And, through Trim’s Simple Savings feature, your money will be automatically allocated into your savings.

5. Goodbudget

Envelop system is a traditional budgeting system, which means you put money for different category into different envelop, and only use the only in the envelop in the following month. Well, Goodbudget is an Android and iOS app built on this tried-and-true method. That means you take your monthly income and place what you need into specific e-envelopes, such as groceries, utilities, donations, and going out for fun. It also encourages you to produce Goals and Annual Envelopes.

Essentially, it’s a budget tracker, check ledger, and finance manager. It’s most useful for families to ensure that everyone stays on the same page. The only drawback is that it doesn’t sync with your bank accounts. That means you’ll have to input this information manually.

6. Fudget

If you need a simple and straightforward budgeting app, then look no further. Fudget may not have all of the bells-and-whistles as other entries. But, it’s meant to be a budget planner that anyone can else since there isn’t a learning curve.

With just the click of one button, you can generate lists of incomings and expenses to see how much money you have left. You do have the ability to star recurring expenses so that these will be taken into account in future budgets.

7. PocketGuard

Do you have difficulty knowing how much money you have left to spend? Don’t be embarrassed. It’s happened to the best of us—especially during financially uncertain times like the Great Recession or COVID-19 pandemic.

The good news is that PocketGuard can make this a problem of the past. Just connect the app with your bank and card accounts. Don’t worry, this will be through an encrypted, read-only connection. After that, it will automatically track and sort your bills, purchases, and subscriptions to estimate what you have leftover. It then creates a personalized budget for you.

PocketGuard is known for its mobile-friendly approach. And, it’s probably better suited for budgeting newbies.

8. EveryDollar

EveryDollar Budget is Dave Ramsey’s free budgeting tool. It’s another no-frills solution that allows you to budget from your desktop, iPhone, or Android device.

Simply add your monthly income, plan your expenses, and then stick to your plan by tracking your spending. That’s it. However, it will connect with your bank account, so you don’t need to input this data manually. There are also visuals so that you can quickly glance at what you’ve planned, spent, and have remaining.

9. MoneyStrands

Like most other online budgeting tools, you can sync your bank and credit card information to create a budget and track your spending. What makes MoneyStrands unique, however, are the stunning visuals it produces so that you can see where your hard-earned cash is going.

MoneyStrands also lets you create a 12-month spending plan and establish savings goals. Moreover, you can compare your finances with other community members. And, there’s a handy calendar feature that lets you can plan ahead.

As if that weren’t enough, there’s another nifty feature that informs you whether you have the money to purchase without going over your budget. MoneyStrands is available on the web, iOS, and Android.

By Chalmers Brown

The Epoch Times Copyright © 2022 The views and opinions expressed are only those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.